Asian Stocks Rise First Time in Three Days Before Fed Decision

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Asian stocks rose for the first time in three days, following U.S. shares higher, as investors awaited a Federal Reserve decision on U.S. monetary policy.

The MSCI Asia Pacific Index gained 0.2 percent to 146.63 as of 9:02 a.m. in Tokyo. The measure slipped 1.2 percent in the previous two days as European policy makers urged Greece to make the concessions needed to unlock bailout aid ahead of Thursday’s meeting of euro-area finance ministers.

The Fed concludes its two-day policy meeting Wednesday, amid speculation mixed U.S. economic data and the deadlock over Greece may complicate the central bank’s drive to increase interest rates. Greece’s prime minister accused the International Monetary Fund of “criminal” responsibility for the indebted nation’s situation.

Japan’s Topix index added 0.3 percent. South Korea’s Kospi index rose 0.2 percent. Australia’s S&P/ASX 200 Index gained 0.3 percent and New Zealand’s NZX 50 Index slid 0.1 percent.

Source : Bloomberg